MINNEAPOLIS, July 10, 2013 /PRNewswire-USNewswire/ -- ACA International, the largest trade association representing the credit and collections industry, believes the consumer complaint resolution process for debt collection announced today by the Consumer Financial Protection Bureau will be an important tool to help consumers and debt collectors collaborate to resolve concerns. ACA participated in today's CFPB field hearing in Portland, Maine where this announcement was made.

"Consumers are best served when they have an opportunity to communicate and resolve their complaints," ACA International Chief Executive Officer Pat Morris said. "ACA has been engaged with the CFPB as it has created the resolution process for debt collection related complaints and has jointly communicated this new process to help our membership be ready when it was launched."

Morris said that the ARM industry takes consumer complaints seriously and was heartened by the reduction in debt collection related complaints to the Federal Trade Commission, as referenced in the CFPB's annual report to Congress. Further, according to the Council of Better Business Bureau's 2012 report on inquiries and complaint statistics, United States collection agencies resolved 86 percent of the consumer complaints received in 2012; exceeding the national average of 77 percent for all industries.

"It's imperative to point out that just because a consumer has complained to the CFPB it does not mean or imply that the debt collector has actually violated the law or engaged in wrongdoing of any kind," added Morris. "The CFPB's own definition of a complaint is simply that the consumer is dissatisfied with the service, product or response they have received from a company."

ACA will continue to encourage active communication between consumers and third-party debt collectors, in addition to working with the CFPB to provide feedback that refines the resolution process to ensure that it accurately reflects the environment of consumer debt collection. ACA members believe consumers have important rights under federal and state law, and deserve to be treated fairly, respectfully and free of deception or abuse. For more information about consumer rights in debt collection or to ask questions, visit www.askdoctordebt.org.

Third-party debt collection is essential to the national and state economies, which are built on the foundation that those who provide credit, goods and services expect to be repaid. Recovering rightfully owed debts helps businesses survive, prevents layoffs, keeps cost down and ensures that credit, goods and services are available to consumers.

ACA International (www.acainternational.org) is the comprehensive, knowledge-based resource for the credit and collection industry. Founded in 1939, ACA brings together 5,000 members in the United States and abroad, and their more than 300,000 employees, representing third-party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. ACA supports members through state and federal advocacy, training and resources.